What Is An Income Statement? An income statement lists a company’s income, expenses, and resulting profits over a specific time frame, usually a quarter or fiscal year. Companies create income ...

The difference between income and expenses is simple: income is the money your business takes in and expenses are what it spends money on. Your net income is generally your revenue, or all the money ...

Jason Morris has 9+ years of experience as a financial professional. He is currently a controller for Nucorp, the largest steel producer in the U.S. Suzanne is a content marketer, writer, and ...

Most organizations need to prepare budgeted income statements when setting financial goals. If you do your own accounting, you can simply fill out a budgeted income statement template in Excel. This ...

A profit and loss statement summarizes a business’s revenue and expenses. Learn how to use a profit and loss statement to understand your business better.

Income tax expense is a critical component of a company’s financial statements, reflecting the taxes a business owes based on its taxable income for a specific period. It represents the total amount ...

Future income taxes are upcoming tax costs or savings due to discrepancies between financial statements and tax returns.

FASB is seeking comments on a proposed Accounting Standards Update (ASU) that is intended to provide investors with more decision-useful information regarding a public business entity’s expenses. The ...

This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter. The Financial Accounting Standards Board published new rules ...

A financial document generated monthly and/or annually that reports the earnings of a company by stating all relevant revenues (or gross income) and expenses in order to calculate net income. Also ...